Well.. an 80% controlling stake...

MONTREAL — A subsidiary of ACE Aviation Holdings Inc. (TSX: ACE.B) will acquire 80 per cent of Grupo TACA Holdings Ltd.'s aircraft maintenance division in El Salvador for US$44.7 million and shares.

http://www.thestar.com/NASApp/cs/Con...233912141&call_pageid=968332188492

Could this mean more planes heading South for maintenance?

Yes indeed, more planes heading down to SJO, but why would TA sell this division which is doing pretty good? They should have wait a little more and sell it in 4 years when probably its value price would have been doubled!

ghost77 APM

TACA has done a good job of building up and marketing its Aeroman unit these last few years including landing some significant North American business from America West and Jetblue.

I suspect Air Canada will now cross sell the Aeroman capacity side by side with its Canadian facilities while also likely pursuing further expansion in facilities and capabilities at Aeroman.

Quoting Ghost77 (Reply 1): Yes indeed, more planes heading down to SJO

Aeroman is in San Salvador. You are probably thinking about COOPESA in SJO which has nothing to do with TACA.

Ooops truth!! I totally confuse Aeroman and COOPESA. Sorry!

ghost77 APM

Odd... I would have thought the main reasone TA had aeroman was to service their large fleet of Airbuses... now what?

MGA

Quoting MGA (Reply 4): Odd... I would have thought the main reasone TA had aeroman was to service their large fleet of Airbuses... now what?

I am sure that Aeroman would still give service to TACA planes at a preferential rate... and now to Air Candada planes?

This will be very interesting to see AC owning 80% from the company.

"
AEROMAN INTERNATIONALIZED TO GAIN ACCESS TO BETTER AND NEW MARKETS












* ACTS incorporates as AEROMAN’s strategic investing partner
* This associtation presents an opportunity to strengthen AEROMAN’s international market presence and complement its service offer
* ACTS thoroughly evaluated AEROMAN ´s efficient operation that provides reliable quality services, its highly qualified executives, technical and administrative personnel, its solid financial position and especially the potencial for growth and development in El Salvador

El Salvador’s AEROMAN, a Maintenance, Repairs and Overhaul (MRO) facility founding member of the world-wide Airbus MRO Network, confirms the incorporation of ACTS (Air Canada Technical Services) as AEROMAN’s majority investment strategic partner. ACTS will own an 80% shareholder participation, which responds to a growth strategy pursued by both companies.

ACTS is a Canadian MRO, based in Montreal, a wholly-owned subsidiary of ACE Aviation Holdings Inc., which provides total solutions aircraft maintenance services, including airframe, engine and components to approximately 100 global customers. With a workforce of nearly 3,800 employees ACTS has major bases in Montreal, Toronto, Winnipeg and Vancouver.

This participation will strengthen AEROMAN’s competitive position providing access to new customers and international markets, which in turn will favour the implementation of future plans for expansion in El Salvador.

AEROMAN’s strategic geographic position agrees with ACTS objectives, as far as both companies pursue to enter new markets by serving airlines with North and South American bases of operation. Both companies look to further strengthen their leadership in the American continent. ACTS and AEROMAN will continue operating as independent business units, each one with its own Board of Directors and internal organization. There are no plans to merge both operations, but emerged synergies will be taken into consideration.

To invest, ACTS evaluated AEROMAN’s prestige in rendering quality services with reliability, its prestigious shareholders, a solid financial position and an interesting service and client portfolio. Also, the investors appreciated the highly qualified executives, technical and administrative personnel that work at the MRO, whom have continually proven themselves with excellence in the different stages of AEROMAN’s growth.

With regard to this negotiation, Roberto Kriete, President of the Board and CEO of TACA, expressed: “We are very pleased to incorporate ACTS as a strategic partner in an operation that leverages AEROMAN’s competitive strengths and facilitates its growth strategy, as well as contributing to El Salvador’s promotion efforts for future foreign investments.”

“We are proud – he added - that AEROMAN, with its high standards and competitive quality, raised investment interest from an almost 70 years experience, total solutions MRO as ACTS. This is an example of what highly motivated skilled labor force combined with a strong conviction in the region can do to promote foreign investment and international recognition.”

Founded in 1983, AEROMAN is a high technology business that provides aircraft maintenance services and is strategically located at El Salvador’s International Airport. It started as TACA International Airlines’ Maintenance Repairs & Overhaul Facility (MRO) to later consolidate as an independent business unit. With four lines of production this facility can simultaneously service 4 aircraft, with more than 1000 qualified and certified employees. AEROMAN is certified by the United States’ FAA, European Aviation Security Agency, EASA and civil aviation authorities in 13 countries. This MRO was the first in Latin America to obtain an ISO 9001-2000 certification. AEROMAN offers its services to carriers from North, Center and the South America, among them: TACA, JetBlue, U.S. Airways and Iberia.

TACA is a leading commercial aviation consortium that integrates Central America with the United States, Canada, Mexico, the Caribbean and South America; serving its customers with 31 Airbus new generation aircrafts. It has more than 5,000 employees. TACA operates 135 daily flights, an average 12 hours of flight a day per aircraft, with a 93% of On Time Performance. During 2006 the airline will have served 3.5 million passengers with a world class service with Latin taste and expects a sales volume of $750 million. More information on TACA and its services can be found at www.taca.com... "

Source: http://www.aeroman.taca.com/news/index.html